In the first 11 months of 2024, BCR’s financing for energy and energy infrastructure projects in Romania totalled around 520 million euros, with more than 300 million euros allocated to green energy projects.
“At BCR, we have been a pioneer of renewable energy financing, and we invest constantly in supporting the transition to a Net Zero economy, making the financing of clean energy projects a priority in our corporate lending strategy,” says Anca Ilin, Head of Project Finance at BCR, in a press release.
On 18 December 2024, the bank announced that together with Erste Group Bank AG it has provided 107.23 million euros to Enery, one of the key players in the renewable energy market in Central and Eastern Europe. The financing is part of a syndicated loan amounting EUR 214.45 million, with BCR, Erste Group Bank AG, and UniCredit Bank acting as Mandated Lead Arrangers and Original Lenders. BCR and UniCredit Bank also served as Joint Coordinators and Bookrunners. Additionally, BCR assumed the roles of ESG Coordinator, Security, and Facility Agent, ensuring the implementation of high sustainability standards and the optimization of the project’s financial structure, while UniCredit Bank acted as Documentation Agent.
The loan facility is strategically allocated to refinancing Enery’s existing renewable energy portfolio and funding new production capacities in Romania, providing financial stability and operational efficiency.
The funds will be used to build a new 64.5 MW PV project and co-locating battery energy storage systems (BESS) across all operational and greenfield power plants to enhance grid stability and storage capabilities.
“We take pride in being a strong financial partner for Enery and to contribute through this transaction to the consolidation and expansion of their projects, while strengthening Romania’s role as a hub for energy and climate diversity in Central and Eastern Europe,” said Manuela Trisnevschi, Head of Energy and Utilities, Corporate Coverage, BCR.
The 107.23 million euros financing marks the second major transaction between BCR, Erste Group Bank AG, and Enery, following the financing granted in February 2023. At that time, the two banks supported Enery in acquiring an 81 MW renewable energy portfolio owned by Jade Power Trust in Romania.
” This type of portfolio financing tailor made to Enery’s portfolio and plans for Romania, supports the company in becoming a full green IPP in Romania”, said Sebastian Staicu, VP Financing from Enery. Traditional financing does not offer an intermediate solution between Project Financing and Corporate Financing for growing RES IPPs, Sebastian Staicu added. “We can now focus on delivering innovative renewable energy projects that drive long-term sustainability and economic value”, he also said.